USD / CHF – Mathematical Analysis with Murray Lines for December 18, 2013
December 18, 2013 9:15 am
Daily Chart
It is expected today that the U.S. dollar will fall againsth the Swiss franc to hit the new minimum of 0.8832 dropping below its trendline. The medium-term view is uncertain, but when the price is below its trendline and below the line 1/8 (yellow line), it is possible that the Swiss franc will continue losing positions at to get to the line 0/8 in the short-term. However, as there is a horizontal red line that serves as a support at 0.8838 together with the first weekly support at 0.8842, the price may go up.
4-Hour Chart
On the other hand, the 4-hour chart shows that USD/CHF is trading at the edge of its superior trendline since December 13 with support line at 2/8 (red line) of Murrey. At the moment we are at an angle with the superior trendline chanal. It is possible that 2 scenarios that we have already mentioned will be intact. The currency pair will be able to touch a new minimum at 0/8 and then rise to the new high. In addition, the price will be able to go up from this price zone.
1-Hour Chart
Finally, 1-hour chart shows that the pair may find its support at 3/8 line after touching the channel’s superior trendline (green line), 7 pips away from its weekly support. Analyzing the chart, we can suggest that th lines of 3/8, 4/8, and S1 weekly may serve as important support areas that the currency pair may use as consolidation areas before a possible price reversal.
If you have any questions or suggestions, please contact:
No information published constitutes a solicitation, offer, or recommendation, to buy or sell any investment instrument, to effect any transactions, or to conclude any legal act, whatever its nature.
The information published and opinions expressed are provided on an only for information only and is subject to change without notice, delimiting the company responsibility for decisions originating from the same, and they cause any kind of profit, loss or damage.
The material has been provided by InstaForex Company – www.instaforex.com
Daily Chart
It is expected today that the U.S. dollar will fall againsth the Swiss franc to hit the new minimum of 0.8832 dropping below its trendline. The medium-term view is uncertain, but when the price is below its trendline and below the line 1/8 (yellow line), it is possible that the Swiss franc will continue losing positions at to get to the line 0/8 in the short-term. However, as there is a horizontal red line that serves as a support at 0.8838 together with the first weekly support at 0.8842, the price may go up.
4-Hour Chart
On the other hand, the 4-hour chart shows that USD/CHF is trading at the edge of its superior trendline since December 13 with support line at 2/8 (red line) of Murrey. At the moment we are at an angle with the superior trendline chanal. It is possible that 2 scenarios that we have already mentioned will be intact. The currency pair will be able to touch a new minimum at 0/8 and then rise to the new high. In addition, the price will be able to go up from this price zone.
1-Hour Chart
Finally, 1-hour chart shows that the pair may find its support at 3/8 line after touching the channel’s superior trendline (green line), 7 pips away from its weekly support. Analyzing the chart, we can suggest that th lines of 3/8, 4/8, and S1 weekly may serve as important support areas that the currency pair may use as consolidation areas before a possible price reversal.
If you have any questions or suggestions, please contact:
email: [email protected]
DISCLAIMER
No information published constitutes a solicitation, offer, or recommendation, to buy or sell any investment instrument, to effect any transactions, or to conclude any legal act, whatever its nature.
The information published and opinions expressed are provided on an only for information only and is subject to change without notice, delimiting the company responsibility for decisions originating from the same, and they cause any kind of profit, loss or damage.
The material has been provided by InstaForex Company – www.instaforex.com
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